The Study Of Centralized Treasury Management In SX Enterprise Group

In the 21st century,the rapid change of internal and external environment makes the development of enterprise groups face more fierce challenges.Enterprises develop from the extension to the connotation,focusing more on enhancing the value creation ability of enterprises.As an important factor of production of enterprise groups,the effectiveness of capital management directly affects the depth and breadth of value creation of enterprise groups.With the business cycles of different entities of enterprise groups and the differentiation of capital demand gradually appearing,as well as the rapid increase of the scale of capital flow,the demand of enterprise groups for centralized capital management becomes strong.Centralized capital management can effectively improve the efficiency of capital turnover,reduce the cost of capital use,and prevent the risk of capital management.Its effectiveness in the management practice of large enterprise groups has been constantly verified.In the current process of financial system de-leveraging in China,enterprise groups are facing varying degrees of risk in fund management,and centralized fund management is an important way for enterprise groups to cope with the risk of fund management.On the basis of introducing the basic concepts and theories of fund management,this paper makes a comparative analysis of the five modes of centralized management of funds,expounds the relationship between enterprise group management and control,headquarters positioning.strategic control of enterprise groups and centralized management of funds,and clarifies the group of enterprises.The main reasons for selecting the centralized management model of funds are analyzed,and the specific factors affecting the centralized management mode of the selected group of enterprises are analyzed.Under the guidance of theory,this paper conducts a case study on SX Group's current situation of centralized fund management mode and effect,refines the main problems in the process of centralized fund management,this paper points out five shortcomings of financial companies in the new regulatory environment:inadequate understanding of the re-positioning of financial services functions,inadequate preparation for the impact of interest rate marketization by financial companies,inadequate evaluation mechanism for financial companies at the present stage,the handling of the relationship between financial companies and related parties of listed companies,and the coordination between domestic and overseas capital pools.At the same time,it puts forward suggestions on optimizing SX Group's centralized fund management mode from five aspects:perfecting SX Group's treasury management function on the platform of financial company,coordinating the relationship among various stakeholders,establishing an assessment mechanism suitable for the function orientation of financial company,strengthening the research of financial business in industry chain,and realizing the innovation of centralized fund management with the innovation of information technologyThe innovation of this paper lies in facing the new regulatory environment and the background of interest rate liberalization.It is proposed to perfect the treasury management function of the SX Group on the financial company platform.The limitations of the current centralized fund management of SX Group can be solved through the centralization of the treasury management function at the group level and the extension of the financial company platform.Generally speaking,the case study of SX Group's centralized fund management has theoretical and practical significance for the optimization and upgrading of the current large enterprise group's centralized fund management and the construction of a global centralized fund management platform covering both domestic and overseas.